"The steep decline in oil price is positive for all consumers including big importers like India, as it helps in narrowing their trade deficit and strengthens their currencies," CNI Research Head Kishor Ostwal said.

"In contrast, for the oil producers this is a negative news as it lowers their export earnings. Given that many countries are dependent on oil exports, their growth would be affected," he added.

Brent crude oil price is hovering at around $51 per barrel. On January 7, it fell below $50 a barrel - first time since May 2009 - mainly due to increased supply of oil and slowing global growth. It had dropped to as low as $49.66 a barrel on that day.

In 2014, the net investment by overseas investors into the equities was Rs 98,150 crore, while in the debt markets it was Rs 1.6 lakh crore, aggregating Rs 2.58 lakh crore.

PTI

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